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GROWING AND FRAGMENTING
Yesterday, I presented a special lecture with Prairie College Business Management students on Fair Trade. As I have been updating myself about this topic, a few headlines grab my attention:
Kitkat withdrawing from Fair Trade
Fairtrade : Is it really fair?
Shocked but not surprised: Fairtrade responds to report of widespread child labor in West African cocoa industry
The system is not perfect but it is working for a lot of farmers, artisans, and producers in the South. The current labelling and certification process for fairtrade has become a million dollar industry. Ethical consumers are beginning to vote with their purchases and this trend will be going to continue in the next 10 years. The question for the actors is that how can we prevent consumer confusion with all these competing claims in the marketplace?
The fairtrade sector is growing at an accelerated rate from $ 1.5M in 2005 to $9.8B in 2018. Yet, fragmenting in many ways due to the crowding of claims within and outside of the ethical/fair markets.
There has been tremendous harmonization of fairtrade. All actors understand, agree, and commit to its principles and standards. In the future, actors must as well agree and commit to growing and evolving fairtrade without compromising its foundational principles but at the same time, honoring its commitments to the broader marketplace.
The heart of true fairtrade lies in the producers and farmers. If they're not benefitted from these initiatives, why would fairtrade exists?
If you're interested to deep dive into your strategy, change, and engagement issues, reach out to me at email@example.com. Don't wait for the perfect time, situation, or budget.
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